upGrad KnowledgeHut eyes annual revenue run rate to reach Rs 300 cr by Mar

Short duration technology skill provider, upGrad KnowledgeHut, part of Asia’s higher edtech firm upGrad said it is expecting to record a Rs 300 crore Annual Revenue Run rate in March, 2022. This is a massive jump from Rs 80 crore, within 7 months of coming into the upGrad fold. The significant increase comes on the back of the demand for short-form courses by the global workforce, to upskill, improve their competency and pivot their professional careers in the desired direction. upGrad KnowledgeHut customers are global with the US and Southeast Asia forming the major markets, followed by India.

“With our aim of liberalising transnational education short-form courses will be critical for our global growth story, especially due to KnowledgeHut’s presence across 100 countries,” said Ronnie Scewvala, co-founder and chairperson, upGrad. “Short-form courses will play a critical role in capturing a lion’s share of the upskilling and reskilling segment which has a market potential of over $58 billion.”

A study commissioned by Amazon India in September 2021 revealed that nearly 51 per cent of job-seeking adults wanted to pursue opportunities in industries in which they had negligible or no experience. And 68 per cent of them wanted to switch industries. And in order to do so, upskilling is now a priority.

Since 2011, KnowledgeHut has been working on a mission to become the global market leader in short-term upskilling and reskilling programs and boot camps. This includes empowering technologists and professionals with hands-on learning opportunities at scale and helping close the skills gap. The company aims to upskill another 50,000 learners by FY22. It would do this by leveraging its immersive learning experience platform ‘Prism’ to gauge conceptual understanding and knowledge retention of learners through integrated Live interactions, instructor-led sessions and microlearning capsules with assessments at every level. upGrad KnowledgeHut’s short courses are aimed to improve competency and make learners job-ready in the shortest possible time while maintaining the highest of standards. 

“With the online education sector projected to touch $325 billion in 2025, short-form courses will play a critical role in establishing the market leaders,” said Subramanyam Reddy, CEO, upGrad KnowledgeHut. “Leveraging this opportunity, we have been focused on driving technical skills for our learners across the globe to improve overall competency scores and improve employability for all.”

upGrad KnowledgeHut has established a global presence in over 100 countries. It has offered over 200 courses in different domains including, full-stack development, data science, cloud computing, future tech, deep tech, agile and scrum, IT service management and project management.